The following is a summary of the OGE Energy Corp (OGE) Q1 2024 Earnings Call Transcript:

Financial Performance:

• OGE Energy Corp reported consolidated earnings of $0.09 per share in Q1 2024, with OG&E earnings at $0.12 per share and a holding company loss of $0.03 per share.

• The company reported a consolidated Q1 2024 net income of $19 million, down from Q1 2023's $38 million.

• Despite a decrease in net income, higher operating revenues were recorded due to strong load growth.

• The company anticipates meeting its consolidated earnings commitment for 2024 of $2.12 per share, within a range of $2.06 to $2.18 per share.

Business Progress:

• OGE Energy Corp is experiencing significant improvements in its power grid due to ongoing investments, reporting a 28% improvement in SAIDI since 2020.

• The company completed its latest Integrated Resource Plan (IRP) to meet generation capacity needs until 2028 using a combination of solar and Combustion Turbines (CTs).

• The organization reported solid customer and load growth in Q1, which bodes well for the rest of the year.

• The company is actively pursuing data center projects and intends to seek additional grants to enhance affordability.

• OGE Energy Corp is undergoing a rate review in Oklahoma to recover investments in the grid, new customer connections, and storm restorations.

More details: OGE Energy IR

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